GREEN BAY, WI – Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NICB) has reported that Director Susan L. Merkatoris sold a total of 3,000 shares of company stock on June 5th and 6th, according to the latest SEC filings. The transactions totaled approximately $237,074, with individual share prices ranging from $79.00 to $79.27.
On June 5th, Merkatoris sold 522 shares at a weighted average price of $79.00. The following day, an additional 2,478 shares were sold at a weighted average price of $79.03. These sales were executed in multiple transactions at various prices within the stated ranges. After these transactions, Merkatoris still owns a significant number of shares, with 89,224 shares remaining under her direct ownership.
The prices provided are weighted averages, and the specific details of shares sold at each price within the reported range can be made available upon request from Nicolet Bankshares Inc ., its security holders, or the SEC staff, as per the footnotes in the SEC filing.
Investors often monitor insider trading patterns for insights into both the health of the company and the confidence that executives and directors have in the business's prospects. However, such transactions can be motivated by a variety of factors and do not necessarily signal a change in company fundamentals.
Nicolet Bankshares Inc. operates as the holding company for Nicolet National Bank, providing commercial and retail banking services primarily in Wisconsin. The bank's shares are publicly traded on the NASDAQ under the ticker symbol NICB.
In other recent news, Nicolet Bankshares has been a focal point in the financial sector due to recent developments. Keefe, Bruyette & Woods maintained a Market Perform rating on the company, highlighting the increase of its common dividend by 12%, to $0.28 per share. This decision reflects Nicolet Bankshares' financial stability and commitment to its investors.
Concurrently, the company's first-quarter earnings for 2024 surpassed expectations, with an operating earnings per share (EPS) of $1.72, exceeding the analyst's estimate of $1.55. Despite this positive outcome, Nicolet Bankshares saw a decrease in non-interest-bearing (NIB) deposits by approximately $293 million during the quarter, which led Stephens to revise its price target for the bank to $88.
Despite some challenges in its financial performance, Nicolet Bankshares demonstrated strong core fee income and favorable credit metrics. Piper Sandler, however, revised its earnings per share (EPS) estimates for the bank for 2024 and 2025 to $6.85 and $6.60, respectively, leading to a lowered price target of $82.50. These recent developments underline the dynamic financial landscape surrounding Nicolet Bankshares.
InvestingPro Insights
As investors evaluate the recent insider trading activity at Nicolet Bankshares Inc. (NASDAQ:NICB), it's worth considering the company's financial health and market performance for a comprehensive understanding. According to InvestingPro, Nicolet Bankshares Inc. is navigating the financial landscape with some notable strengths and challenges.
InvestingPro Data reveals that the company has a market capitalization of $1.18 billion and is trading at a P/E ratio of 12.82, which adjusts down to 12.02 on a last twelve months (LTM) basis as of Q1 2024. This suggests that the company is trading at a reasonable valuation relative to its earnings. The revenue growth is particularly impressive, with a 29.53% increase LTM as of Q1 2024, and an even more remarkable quarterly revenue growth of 156.33% in Q1 2024.
An InvestingPro Tip highlights that Nicolet Bankshares Inc. is currently trading at a low P/E ratio relative to its near-term earnings growth. This could indicate a potential undervaluation by the market, especially considering that analysts predict the company will be profitable this year. Additionally, with a history of profitability over the last twelve months and a high return over the last decade, the company presents a track record of financial stability.
However, not all metrics are favorable. The company suffers from weak gross profit margins, which could be a point of concern for potential investors. Moreover, three analysts have revised their earnings downwards for the upcoming period, signaling a cautious outlook on the company's future earnings potential.
For those interested in diving deeper into Nicolet Bankshares Inc.'s financials and performance metrics, InvestingPro offers a wealth of additional tips and insights. With the use of the exclusive coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these valuable resources.
Overall, while the insider trading activity may draw attention, it is the robust revenue growth and the attractive valuation metrics that may offer a more compelling narrative for investors considering Nicolet Bankshares Inc. as part of their investment portfolio.
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